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Question 27 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Question 27 Chapter 5 of +2- Part-
Q-27. - CH-2 - Usha Book 2018 - Solution

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Question 27 Chapter 5 of +2-Part-1

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 27. (New Partner doesn’t bring G/W in Cash) X, Y and Z am partners in 5:3:2 ratio. A admitted for 1/10 share. He hrings capital Rs. 40,000 Goodwill is valued for the firm Rs. 30,000 New partner does not bring goodwill in cash New ratio, is 4:4:1:1. Pass the journal entries.

We are providing a solution of Question 27 Chapter 5 of +2 Part-1 in two formats. one is in Video format and another is in article format. Check out both formats as follows:

1. Check out the Solution of this question in Video Format:-

The video consists solution of question numbers from 24 to 32 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 27 from the flowing video by using time stamps of the video.

2. Check out the Solution of this question in Article Format:-

The solution of Question 27 Chapter 5 of +2 Part-1: – 

Journal
DateParticulars
L.F.DebitCredit
      
i)Cash A/cDr. 40,000 
 To A’s Capital A/c   40,000
 (Being existing goodwill written off . )   
     
ii)A’s Capital A/cDr. 3,000 
 To X’s Capital A/c   1,500
 To Z’s Capital A/c   1,500
 (Being A’s goodwill adjusted in sacrificing Ratio i.e. 1:1)    
      
iii)Y’s Capital A/cDr. 3,000 
 To X’s Capital A/c   1,500
 To Z’s Capital A/c   1,500
 (Being Y’s Share goodwill adjusted in sacrificing Ratio i.e. 1:1)    
     

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Working Note

Sacrificing Ratio = Old share of old partners – New share

X’s sacrifice=54
1010
     
 =1  
 10  
Y’s sacrifice=34
1010
1    
 =1  
 10  
Z’s sacrifice=11
1010
     
 =1  
 10  
Goodwill to be brought by Y and A=30,0000x1
10
     
 =Rs 3,000 Each  

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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